What Is the Exchange Rate Between the Dollar and the British

question 47

Multiple Choice

What is the exchange rate between the dollar and the British pound if a pair of American jeans costs 60 dollars in New York and 30 Pounds in London?

• A) 1.5 dollars per British pound
• B) 0.5 dollars per British pound
• C) 2.5 dollars per British pound
• D) 3.5 dollars per British pound
• E) 2 dollars per British pound

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Definitions:

Rent

The payment made by a tenant to use property owned by someone else for a predefined period.

Hourly Rate

A set amount that an employee is paid for each hour of work.

Estimate

A rough calculation or educated guess of a figure based on available information.

Amortization Table

A listing of the unpaid principal, the monthly payment, the amount allocated to paying down the principal, and the amount allocated to interest.